BMO Capital Markets Analysts Give Nordstrom, Inc. (JWN) a $44.00 Price Target
Nordstrom, Inc. (NYSE:JWN) has been assigned a $44.00 price target by analysts at BMO Capital Markets in a research report issued on Monday. The firm presently has a “hold” rating on the specialty retailer’s stock. BMO Capital Markets’ price target points to a potential upside of 9.92% from the stock’s previous close.
Several other brokerages also recently issued reports on JWN. Zacks Investment Research raised shares of Nordstrom from a “sell” rating to a “hold” rating and set a $45.00 price objective on the stock in a research note on Wednesday, November 8th. Robert W. Baird reduced their price objective on shares of Nordstrom from $50.00 to $43.00 and set a “neutral” rating on the stock in a research note on Friday. Cowen and Company reissued an “outperform” rating and set a $53.00 price objective (up previously from $49.00) on shares of Nordstrom in a research note on Wednesday, September 13th. KeyCorp set a $55.00 price target on shares of Nordstrom and gave the stock a “buy” rating in a research note on Wednesday, October 11th. Finally, BidaskClub downgraded shares of Nordstrom from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Four equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $45.33.
Nordstrom (NYSE JWN) remained flat at $$40.03 during mid-day trading on Monday. 7,114,800 shares of the company traded hands, compared to its average volume of 2,928,846. The company has a debt-to-equity ratio of 3.14, a current ratio of 1.00 and a quick ratio of 0.30. The firm has a market capitalization of $6,650.00, a price-to-earnings ratio of 12.83, a price-to-earnings-growth ratio of 2.26 and a beta of 0.84. Nordstrom has a 1-year low of $37.79 and a 1-year high of $62.82.
Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Thursday, November 9th. The specialty retailer reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.04. The business had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $3.50 billion. Nordstrom had a net margin of 3.25% and a return on equity of 67.44%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.84 earnings per share. analysts predict that Nordstrom will post 2.95 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of JWN. Bank of New York Mellon Corp lifted its position in shares of Nordstrom by 37.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 10,882,305 shares of the specialty retailer’s stock worth $520,501,000 after buying an additional 2,985,551 shares during the last quarter. York Capital Management Global Advisors LLC bought a new stake in Nordstrom in the 2nd quarter valued at about $75,623,000. Principal Financial Group Inc. lifted its position in Nordstrom by 168.7% in the 2nd quarter. Principal Financial Group Inc. now owns 1,831,138 shares of the specialty retailer’s stock valued at $87,584,000 after purchasing an additional 1,149,685 shares during the last quarter. Disciplined Growth Investors Inc. MN lifted its position in Nordstrom by 1,155.2% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 893,200 shares of the specialty retailer’s stock valued at $42,722,000 after purchasing an additional 822,038 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in Nordstrom by 245.1% in the 2nd quarter. Franklin Resources Inc. now owns 1,064,584 shares of the specialty retailer’s stock valued at $50,919,000 after purchasing an additional 756,061 shares during the last quarter. Institutional investors own 62.35% of the company’s stock.
Nordstrom, Inc is a fashion specialty retailer in the United States. The Company’s segments include Retail and Credit. As of March 20, 2017, the Company operated 344 the United States stores located in 40 states as well as an e-commerce business. The Company also offers its customers a variety of payment products and services, including credit and debit cards.
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